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chapter 15 homwork

The following information is available for Robstown Corporation for 2048: Inventories January 1 $351,000 625,200 December 31 $435,800 Materials Work in process 590,400 Finished goods 607,400 571,000 December 31 $ 296,600 43,560 55,880 669,000 22.050 76,000 658.200 Advertising expenso Depreciation expense-office equipment Depreciation expense-factory equipment Direct labor Heat, light, and power factory Indirect labor Materials purchased Office salaries expense Property taxes-factory Property taxes-office building Rent expense-factory Sales Sales salaries expenso Supplies-actory Miscellaneous costs-factory 183,300 18.300 31,200 32,500 3,011,000 417,000 16.000 9.200 Required: a. Prepare the 2018 statement of cost of goods manufactured. Be sure to complete the statement heading Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or Robstown Corporation Statement of Cost of Goods Manufactured For the Year Ended December 31, 2048 1 1 Direct materials $351,000.00 3 Materials inventory, January 1, 2048 4 Purchases 5 6 2 3 Factory overhead 10 11 12 15 14 15 10 11 11 19 20 21 b. Prepare the 20Y8 income statement. Be sure to complete the statement heading Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive Robstown Corporation Income Statement Label 7 Cost of goods sold 1 Operating expenses Administrative expenses 11 11 Selling trees 18 16 11 Previous

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